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Paper Information

Journal:   FINANCIAL KNOWLEDGE OF SECURITY ANALYSIS (FINANCIAL STUDIES)   SUMMER 2012 , Volume 5 , Number 14; Page(s) 77 To 94.
 
Paper: 

THE STUDY OF THE ABILITY OF FINANCIAL AND PROFITABILITY VALUE INDEX IN EXPLANATION OF FIRMS STOCK RETURN IN TEHRAN STOCK EXCHANGE

 
 
Author(s):  JALILI S., NONAHAL NAHR A.A., KHALEGHI N.
 
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Abstract: 

Studying behavior of securities and financial assets has always received significant attentions from scientific circles and investors. Financial and profitability value index including economic value added has been the focus of financial management and management accounting. Using these criteria one can accurately predict stock return of the company and can avoid criticism on accounting income. Therfore financial and profitability value index, has a signisifant import for investors. In this regard this project investigates information content, explanation ability and correlation intensity of financial and profit ability value index with firms stock returns. Computing collected data, firm and year, ninety accepted firms in Tehran stock exchange was investigated for seven years. This study is an experiential and it’s purpose is application research type. Research hypotheses using correlation coefficient, multiply regression, F Fisher and T-test were investigated. Using Stata and Excell soft wars required computation was done. The results show that among of independent variables there is meaningful relationship just between economic value added and net income with stock return. Other independent variables such as market value added, cash value added, asset return and equity return have meaningful relationship with stock return, but this relationship is not as much as that of economic value added.

 
Keyword(s): PROFITABILITY, SCIENTIFIC CIRCLES AND INVESTORS
 
References: 
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